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Daily Corn and Soybean Basis Maps for Iowa
On a pilot basis CARD is posting daily basis maps for corn and soybeans. The purpose of this pilot project is to determine if farmer decisions about where to deliver corn and soybeans can be enhanced. We present maps showing both old crop basis and new crop basis. Old crop basis equals the current local cash price minus the nearby futures price on the Chicago Board of Trade. New crop basis equals the local forward price for future delivery less the new crop futures price on the Chicago Board of Trade. Local price data are obtained from DTN. We then employ a spatial smoothing algorithm to develop the maps.
Loan Deficiency Payments
CARD's interactive Loan Deficiency Payment (LDP) database provides several options for checking LDPs of several crops by state and county. It also provides targeted marketing strategy information for corn and soybeans based on your crop's current LDP rate.